With Facebook, it’s not a question of if it files for an IPO, but when. Rumours have been flying since the middle of 2011, a new report from AllThingsD suggests the social network is aiming to go public in the third week of May.

Faceboook is said that they will submit its S-1 filing within the next month, taking into account that the “Securities and Exchange Commission usually takes about three to four months”.

Facebook’s COO Sheryl Sandberg stated a few weeks ago to the report that the company’s IPO was “inevitable” and said that it was “a process that all companies go through”.

Facebook is expected to hit 1 billion users by the Summer. The company’s impending IPO is likely to spark the next crop of angel investors, becoming one of the biggest Web offerings ever.

Could this spark another Dot.com boom?

March 24, 2008 was the first day of work at Facebook for ex-Google executive Sheryl Sandberg, has arrived at the social networking company’s Palo Alto HQ to take up the job of COO.

At Google, Sandberg was the vice president, Global Online Sales and Operations, a major post in which she ran a large swath of the search giant’s ad operations.

Sandberg was responsible for online sales of Google’s ad and publishing products, bringing experience Facebook sorely needs. Previously, she was also the chief of staff at the Treasury Department in the Clinton administration.

At Facebook, Sandberg will oversee a large part of the company, including all sales, human resources, marketing and communications, and business development.

Her job description essentially makes her #2 to Facebook Founder and CEO Mark Zuckerberg, although it’s not characterized that way by him or the company.

But BoomTown is declaring it so, and plans to spend the first week of Sandberg’s tenure making suggestions on what she should get cracking on now.

No surprise, we have a million of them, well beyond our longtime complaint that third-party widgets on the site are juvenile (news flash–they still are!).

And even though our concerns are not all in Sandberg’s purview, we’re directing our suggestions her way, because, well, just because! (In actuality, the CFO and the technology and product divisions will report directly to Zuckerberg.)

Nonetheless, we want some action, including everything from improving the dreadful mail on Facebook, to giving users more ability to sort friends, to allowing data portability to figuring out a way to jack up Facebook’s ad business in a truly significant way.

Yes, that.

Today, though, we’ll give Sandberg time to move in to her office and unpack her boxes, and try to figure out where to eat now that the glories of the Google cafeteria are no longer available to her (that’s right, no more organic soy lattes or hand-fed, massaged-daily roast chicken for you!).

But tomorrow, as Scarlett O’Hara said, is another day.

Source: All Things Digital